12th Annual European High Yield Conference | afme

12th Annual European High Yield Conference

17 Oct 2017 etc venues St. Paul's, London


To nominate a speaker, contact James Hodgson at james.hodgson@afme.eu or on +44 (0)20 3828 2695.

* please note this is a preliminary agenda and is subject to change


Registration and refreshments


Opening remarks and outlook for the European High Yield bond market

Youssef Khlat, Managing Director-Global Head of High Yield Capital Markets, Crédit Agricole and Chair of the High Yield Board, AFME
Gary Simmons,
Managing Director, High Yield and Prime Services, AFME


Morning keynote



Panel discussion: Heads of European High Yield and Leverage Finance

Conversation with the industry leading heads of high yield and leveraged finance, discussing current market trends and expectations for 2018.

  • review of the European high yield market issuance and performance in 2017
  • effects of current and developing trends and practices in the industry
  • what are the key factors that will influence the market in 2018 and beyond
  • expectations and forecast for the coming year

Moderator: Marc Plepelits, Partner, Allen & Overy

Mathias Blumschein, Managing Director, Debt Capital Markets – High Yield, ING
Tanneguy de Carné, Global Head High Yield Capital Markets, Societe Generale
Youssef Khlat, Managing Director-Global Head of High Yield Capital Markets, Crédit Agricole, and Chair of the High Yield Board, AFME
Michael Marsh, Head of EMEA High Yield and Leveraged Loan Capital Markets, Goldman SachsArnaud Tresca, Managing Director, Head of Corporate Leveraged Capital Markets, BNP Paribas


Networking break


Regulation in European High Yield stream

Stream chair’s opening remarks

Why high yield? Issuers stream

Stream chair’s opening remarks


Panel discussion: Non-European listings of high yield bonds

  • why has the rise occurred?
  • pros and cons of non-EU listings
  • will the trend continue

Panellists: Paul Clews, Partner, White & Case

Panel discussion: Issuers Roundtable

Conversation with first time and seasoned issuers to discuss experiences in the European high yield market, including completing a high yield bond transaction as well as living with high yield covenants.

Moderator: Jeanette Cruz, Partner, Allen & Overy


Panel discussion: How will regulation effect European high yield?

  • MiFID II requirements, what challenges will new rules pose to European high-yield bond sales?
  • research requirements
  • potential implications of MAR for listing high yield bonds and market soundings
  • transparency and disclosure requirements
  • continued issues around password protection
  • how will FMSB standards impact European high yield markets going forward
  • what does increased regulation mean for issuers and investors

Panel discussion: Developments, trends and factors affecting issuance and maintenance of European high yield bonds

  • 2017 trends in high yield bond, covlite and term loan B issuance
  • experiences and expectations of issuers
  • are the pros of high yield issuance sufficiently promoted?

Christian Knitzschke, Head of High Yield Syndicate Europe, BBVA


Networking lunch


High yield investors stream

Stream chair's opening remarks

Financing through high yield

Stream chair's opening remarks


Presentation: Update on AFME investor initiatives

Presentation: Outlook for M&A in Europe


Panel discussion: Transparency, covenants, disclosure and reporting 

Panellists: Craig Abouchar, Managing Director, Babson Capital Management

Panel discussion: Heads of private equity: Current market considerations and outlook for next year

  • factors affecting current market liquidity 
  • term loan Bs vs high yield bonds
  • concerns regarding terms in documentation and covenant deterioration 
  • maintaining an open dialogue with investors

Moderator: Fabio Diminich, Partner, Clifford Chance


Networking break


Afternoon keynote


Panel discussion: High Yield Question Time – US vs. Europe: high yield markets comparisons and convergence

  • are European and US high yield still two distinct markets
  • will we continue to see investor and issuer crossover?
  • will markets continue to converge?
  • what policy changes could affect the markets going forward?

Tamer Bahgat, Partner, Ashurst
Sabrina Fox, Head of European Research, Covenant Review


Closing remarks

Gary Simmons
, Managing Director, High Yield and Prime Services, AFME



Drinks reception